Today there are 90% of millions of applications that are leading the app store and are free to download. Free apps bring a vast market to drive $71 billion in revenue each year. These cost-free applications are the main factors that make them popular among users. The free apps offer high-quality features and other seamless user interfaces. Free applications are more popular than paid applications.
But here, the question is how free apps make money for businesses. In this time of digitalization, it becomes essential to create an online presence while listing your existing platform online. Along with creating their mobile application. This article is for all entrepreneurs and start-ups who need to learn about:
Free apps are booming in the market, and paid apps reduce to 40% from 75%. The Free Apps and Paid Apps download statistics show Global App Revenue predicts between 2016 to 2020.
The report by Statista says 95% of the Android Apps are available for free, and only 5% of them are paid one on Google Play Store. It proves that free iOS and Android markets are bringing new opportunities in the market.
Check Mistakes to Avoid When Developing A Mobile App.
Before moving on with understanding monetization methods, here is the statistic that shows the most-used mobile app monetization model of mobile developers.
Now that we have understood the popularity of free apps let’s dive into strategies that help you make money without explicit earning from users.
Advertising is one of the best mobile app monetization strategies. It allows users to download apps for free. But there are times when users occasionally have to watch short video or display ads. The ads added to your page aren’t disruptive, and so the user does not experience any inconvenience.
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For any start-ups, the user may find it challenging to understand the concept of making a profit from free apps. Especially if you aren’t using ads to earn from it, let’s dive in to understand a few monetization tips.
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The time has come when you need to use a multi-channel messaging application that offers a paid conversion in your app. Some of the conversion examples are:
You need to convince users to spend money inside your app, along with using mobile marketing automation. Coordinate with push notification, in-app messages, and another app inbox to create an integrated campaign.
Hire a mobile app development company to accomplish your business goal and develop an engaging mobile app.
To earn more profit from the free app, you can combine various monetization methods. One strategy used here is getting the game item in exchange for watching the video. Longer the video, the more you earn. Video ads tend to convert at a higher rate than dull text ads.
App Monetization platform is a website that offers the best program solution for applications to get the most from in-app advertising. The platform chooses the highest bid for your app by bringing maximum revenue. Today, you have different platforms that provide all services. Here’s the list:
One of the best ways to promote is through services and business to reach your target audience. The website will cover native ads, rewarded ads, standard display ads, and in-stream ads.
This Unity Ads platform offers the best to integrate video ads into publishers’ games. The company offers maximum revenue for any rewarded video.
It’s one of the best alternatives to AdSense as the publisher can access display, contextual, and native ads through their network.
Read Also: Mobile App Development Checklist
Invest in free app development if you have an excellent app idea that will give you incredible profit. You need to use unique marketing strategies before implementing and launching the application. Well, there are a lot of things going behind the scene and inside the free app. It doesn’t mean that it’s free so you cannot make money from it. In the end, you need to keep a note of how your free app can impact the app marketplace and get a robust marketing campaign. Without this, your app won’t hit the market hard. You shouldn’t miss the ultimate guide to mobile app development to penetrate in a cut-throat market.
All in All, to keep within the market, you need to beat the competitors. The monetization process isn’t complicated, as it looks like. Before launching the app, you need to take care of models of monetization and strategies to get the best out of your product.